Short answer
United Rentals (URI) filed its fiscal 2025 10-K annual report with the SEC on Jan 28, 2026. It reported revenue of $3.7B (+3.0% year over year) and net income of $2.5B.
- Top risk flagged: Geopolitical risk from Ukraine and Venezuela conflicts with related sanctions impacting operations and supply chains
FY2025 key financial metrics · XBRL
- Revenue
- $3.7B
- +3.0% YoY
- Net income
- $2.5B
- −3.1% YoY
- Operating margin
- 107.5%
- −5.8 pp YoY
- Gross margin
- 166.3%
- −5.1 pp YoY
- EPS (diluted)
- $38.61
- −0.2% YoY
- ROE
- 27.8%
- −2.1 pp YoY
- Operating cash flow
- $5.2B
- +14.2% YoY
Source: XBRL data from the United Rentals (URI) FY2025 10-K on SEC EDGAR. USD.
United Rentals FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: largest global equipment rental company focused on construction and industrial customers in North America with a smaller presence internationally
- New emphasis on specialty and services expansion including Yak acquisition in March 2024 and growth in tools and onsite services
- Strategic focus on profitability via customer segmentation, operational efficiency, and cross-selling using proprietary Total Control® platform
- Employee count rose to 28,500 in 2025 from 27,900 in 2024, with 1.1 million hours of employee training delivered
- Unusual fact: employees voluntarily donated $1.7M to an internal charity fund in 2025, providing $1.4M in grants to co-workers
Management Discussion & Analysis
- Inflation, interest rates, and tariffs noted as key cost pressures; loan rates increased from 1.4% (2021) to 5.4% (2025) on variable debt
- Issued $1.5B senior unsecured notes at 5.375% interest in Dec 2025, compared to $750M at 3.75% in Aug 2021
- Supply chain disruptions limited so far but potential for worsening in future
- Management monitoring economic conditions, inflation, and tariffs as key emerging risks with potential for significant impact
Risk Factors
- Geopolitical risk from Ukraine and Venezuela conflicts with related sanctions impacting operations and supply chains
- Operational risk from supply chain disruptions affecting fleet availability and equipment transport costs
- Competitive risk from fragmented industry with small, regional, and global equipment rental firms increasing price pressure
- Financial risk with $14.2B total indebtedness at 12/31/25, including $4.1B variable rate debt increasing interest expense exposure
- Macro risk from volatile oil and gas prices reducing customer capital spending, lowering demand for rental equipment
Generated from the filing text; verify against the original. How to read a 10-K
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